Solana Surges %10 Percent as Trump Leads in 2024 Election PollsFxNews — Solana rose 10% on Wednesday as Donald Trump led Harris in 2024 election polling. The price surged from $155.1, peaking at $188.2 before easing. Bears briefly pushed SOL below the October 29 high of $183 but couldn’t hold ground.
Currently, SOL/USD trades around $185, with RSI and Stochastic in the overbought zone, suggesting short-term overvaluation. Going long at this level is not advised. A wait for consolidation near the 61.8% Fibonacci level at $175 or the 38.2% level at $167 offers better entry points for bulls.
The uptrend holds as long as SOL trades above the 100-period moving average, with a potential target at the July 29 high of $194.
Support : 183.3 / 175.0 / 167.0
Resistance : 188.2 / 194.0
Solusdsignals
Solana Technical AnalysisFxNews —Solana is trading bearishly below the 100-period SMA, with immediate resistance at $168.50.
The SOL/USD trend outlook will remain bearish as long as bears hold positions below $168.50. In this scenario, the next bearish targets would be $158.00, followed by $152.00.
Please note that a close above the immediate resistance would invalidate the bearish scenario.
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SOLANA The 1W MA50 and the RSI Support calling for $850 at leastAlmost 3 months ago (June 14, see chart below), we published our long-term thesis on Solana (SOLUSD), arguing that it wasn't the time to buy, not until it tested the 1W MA50 (blue trend-line):
As you can see that turned out to be the case as early last month, the price hit the 1W MA50 and rebounded. Last week's correction though puts this thesis in jeopardy and the 1W MA50 needs to hold. If not, we risk our maximum tolerance level on the 1W MA200 (orange trend-line), if the Bull Cycle is to stay alive. They key however lies on its 1W RSI.
SOL has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and as the correction unfolds, it came last week the closes it has been to the Bull Cycle's Buy Zone since December 21 2020. This Zone is where buyers make their presence during Bull Cycles and not Bear Cycle bottoms.
On the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000. That is the most optimistic scenario we can get.
Keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
A more realistic target for those who don't want to hold for that long and assume higher risk, would be $850.00, which is expected to be at the top of the MMBs.
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SOLUSD Not the time to buy yet.Watch the 1WRSI. Is 4k realistic?Solana (SOLUSD) has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and this is where all the essence of the current price action is.
The 1W RSI peaked on the exact same level (86.00) back on the week of August 24 2020. It didn't find a bottom before entering into bearish territory again around 41.50. That correctional Channel was more aggressive than the current, so this time we may only seek confirmation from the 1W MA50 (blue trend-line), which has been supporting ever since the late September 2023 bullish break-out.
In any case, we believe that the RSI's Bull Cycle Buy Zone, will again give the most optimal buy entry, so we haven't bottomed yet. In any case, we are well within the Mayer Multiple Bands, in fact March's rejection came on its 2 SD above, at the bottom of the Red Wave.
During the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000.
Odd as it may look, keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
Unrealistic or not, it is up to your mind and capital to judge that but it is a fact that the market is only now entering the most aggressive phase of it Bull Cycle.
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SOLANA Will it hit $155 or $310 first?Solana (SOLUSD) is trading within a Triangle pattern within a longer term Channel Up on the 1D time-frame. The 1D MA50 (blue trend-line) has been basically supporting since late September 2023 (it only broke once for 4 days in late January 2024) when the previous similar Channel Up started.
That Channel Up also formed a Triangle half-way through and when the price broke to the upside, it peaked on its 1.5 Fibonacci extension. As a result, we will buy in case a similar bullish break-out takes place and target $310. If the Triangle breaks to the downside first though, we will short and target the 1D MA50 at $155.
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SOLUSD You were warned about it. 1st ever 1W Golden Cross formedSolana (SOLUSD) broke above its former Channel Up as we explained on our last bullish call (December 08 2023, see chart below) and hit last week our 144.000 Target:
Right now it is best to take a step back and view SOL's price action on the 1W time-frame, where the clear long-term trend is revealed, and that's bullish within a Channel Up pattern. The Fibonacci Channel levels reveal that it is still in its early stages within the 0.236 - 0.382 Fibonacci range.
On top of that, it just formed its first ever 1W Golden Cross! This is an incredibly bullish pattern and we expect the whole bull run to peak at atleast +5150% from the market bottom just as the November 2021 Top did. As a result, our Target is $4000.
Note that every pull-back inside the 1W CCI green zone, is a long-term buy opportunity.
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SOLANA Close to breaking above the 1-year Channel Up.Solana (SOLUSD) made a bulls eye on our $65.00 July 27 target (see chart below) and is now attempting a critical break-out:
More specifically is it the second time it makes a marginal breach at the top (Higher Highs trend-line) of the 1-year Channel Up. The 1D MA50 (blue trend-line) has been in absolute Support during October - November's parabolic run. Technically if SOL does close the candle above the Channel Up, it opens the way for a 144.00 Resistance 1 (April 02 2022 High) test, as long as the 1D MA100 (green trend-line) supports.
However it has to pointed out that this is the first time on a Channel Up top that the 1D RSI's Lower Highs are flashing a Bearish Divergence. DUring the other two tops, it was alighed with the Lower Highs of the price.
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SOLANA is staging a hyper rally and few are noticing this!Solana (SOLUSD) has made an important bullish break-out sequence this month as not only did it break above the ATH Lower Highs trend-line (essentially the Resistance of the Bear Cycle) on the week of July 03, but also broke above the 1W MA50 (blue trend-line) the following week for the first time since April 04 2022.
That was a Double Break-out sequence, which will be capitalized if the 1W MA50 holds this week as a Support upon the first test. So far that seems to be the case. If successful then SOL is staging a new hyper rally that will lead it into the new Bull Cycle. We are buying, expecting the first stop to be the 1W MA100 (green trend-line) at 65.000. This is almost as high as the 0.618 Fibonacci retracement level, a standard intermediate technical Resistance during market recoveries.
We want to illustrate two key factors here. First the 1W RSI has completed an Inverse Head and Shoulders pattern, which is a technical bullish reversal formation seen on market bottoms. Second, there is a Higher Lows trend-line that is holding since May 2020, which has made direct contact (Higher Lows) and supported on December 26 2022 and June 05 2023. This may have gone unnoticed by the majority, but seems to be the driving force behind SOL's Cycles and can be the Support that will lead it higher again.
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SOLUSD +200% new year rally facing the most important ResistanceSolana (SOLUSD) has been on a tremendous +200% rally since the December 29 market bottom. The 1D RSI has turned extremely overbought, dwarfing the previous 80.000 of April 01 2022. That was a Lower High on the Channel Down pattern that has been in effect since the November 08 2021 market top, practically dictating the trend of this Bear Cycle.
The price now hit the top (Lower Highs) of this Channel with the 1D MA200 (orange trend-line) right above it. This is the most important Resistance for SOL as it is where it failed on November 05 2022 and April 02 2022 (been unbroken since January 20 2022, so almost 1 year).
A 1D candle closing above it would basically be the strongest buy signal into the new Bull Cycle, targeting the 1W MA50 (red trend-line) on the short-term. On the long-term, after a pull-back to the 1D MA50, and when it closes above the 48.90 Resistance (which had 4 rejections within May - August), we can target 144.00.
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SOLUSD Oversold RSI means nothing. Needs this in order to rally.Solana (SOLUSD) has recovered a considerable amount of yesterday's losses. Rebounding after the 1D RSI broke below the 30.000 oversold barrier, this alone isn't enough to sustain a rally. During the previous 2 times the RSI rebounded above the 30.000 oversold level failed to sustain the uptrend as the price got rejected on the 0.382 Fibonacci retracement level.
As a result, we ideally want to see a break above the 0.5 Fib level (22.00) before buying into the rally. The obvious short-term target is the 1D MA50 (blue trend-line). A break above the 1D MA200 (orange trend-line), which is unbroken since January 20, can make a trend shift long-term to bullish.
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SOLUSD Channel Up valid targeting $60.00.Solana (SOLUSD) has been trading within a Channel Up pattern since the June 13 Low. As long as its Higher Lows (bottom) trend-line holds, it is a buy opportunity targeting its Higher Highs (top) trend-line. Technically it resembles, in 1D RSI terms also, the last rebound towards the ATH Lower Highs trend-line, which stopped just below the 1D MA200 (orange trend-line). That gives us a rough target zone of 58.00 - 62.00.
A break below the Support Zone, invalidates this pattern and if no higher point is made than the July 19 High, the selling can target the 2.0 2.0 Fibonacci extension at 14.35.
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SOLUSD Broke above its Triangle. Bullish bias ahead.Solana (SOLUSD) broke yesterday above the Lower Highs (top) trend-line of the Triangle pattern that it has been trading in for the past 1 month. The pull-back that followed has been quicly contained today above the 4H MA50 (blue trend-line), which has established itself as Support, with the 4H MA200 (orange trend-line) being right below on the 0.618 Fibonacci retracement level.
Still, there is a clear Resistance and Support Zone to consider. As a result, it would be best to trade this on a break-out approach. A break above the Resistance targets the -0.5 and 1.0 Fibs in extension, while a break below the Support targets the 1.5 and 2.0 levels. The RSI Res and Higher Lows can also help us trade on the short-term within a range.
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SOLUSD Approaching a buy levelSolana (SOLUSD) hit today the Lower Lows trend-line (bottom) of the Bearish Megaphone pattern that started after the November 08 2021 High (and All Time High). It is now closer to the 2.0 Fibonacci extension, which as shown on the chart play a major role in determining Lower Lows (rebounds) and Lower Highs (rejections).
With the 1D RSI on Lower Highs, traders can either look to buy near the 2.0 Fib or upon confirmation, when the RSI Lower Highs trend-line breaks. Medium-term target, the 1.5 Fib (44.40).
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SOLUSDT Sideways at best, bearish if this level breaks.*** ***
For this particular analysis on SOLANA we are using the SOLUSDT symbol on the Phemex exchange.
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The idea is on the 1D time-frame where the 1D RSI broke into the heavy oversold zone, which last revisited back in late January 2022. The price then entered a long-term consolidation, trading sideways until the 1D MA50 (blue trend-line) broke but still got rejected on the 1D MA200 (orange trend-line). It was that rejection that brought us to where we are today. It is therefore possible to see a similar monthly sideways trade.
However, if yesterday's low breaks, the long-term Channel Up that has been in effect since Solana's All Time High, will break and should push the price towards the lower Fibonacci extensions. In that case, the targets will be the 2.0 Fibonacci extension around 24.720 and the 2.236 extension around 18.725.
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SOLUSDT , Did you be with us for these profit ???Hello guys
Whats up ? congratulate to anyone for new ATH of Bitcoin
From our last analysis the 3rd target was reached and we are now ready for the 4th one , but before we are going toward the way for reach to 4th target we need pullback in our buy zone or near to it
Previous analysis :
Dont forget use stop loss and money management
Good Luck
Abtin
SOLUSD aiming at $130 in Q4.Pattern: Channel Down on 1D.
Signal: Buy if the 1D MA100 (green trend-line) breaks. If not and a Death Cross is formed instead, expect a Lower Low which will be the most optimal buy signal.
Target: 130.00 (the 1.618 Fibonacci extension).
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